V.9:9 (366-371): Guidelines With Support And Resistance by Richard L. Evans

Item# \V09\C09\GUIDELI.PDF

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Guidelines With Support And Resistance by Richard L. Evans

Given the explosive growth of the financial markets, with all the derivative products and the increased
complexity of trading strategies, all aided by the evolution of computers, some exotic forms of technical
analysis have emerged. A perusal of some of the recent features of STOCKS & COMMODITIES is enough to
overwhelm many an average investor. However, one of the oldest forms of technical analysis, support
and resistance, can still put the individual investor on the same playing field with the institutional
investor when it involves old-fashioned stock picking. The rules are as effective today as they ever have
been.

Support and resistance can generally be equated with demand/supply. Support is where enough demand is
forthcoming to either stop a decline in a stock and/or start an advance; resistance is when enough supply
enters the market to cause the stock to either stop rising and/or start falling. This definition may not seem
too profound, but it shouldn't be; support and resistance is not an exotic technical theory, but one based
on day-to-day trading itself, the nuts and bolts of market activity.

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